FRM- 6 Flashcards
1
Q
Risk Related to Reliance on Dependable Information
A
Risk of Poor Data Quality
2
Q
Data
A
Fluid Asset
3
Q
Data Risk Management
A
- Types of Risks Related to Use of Information
2. Data Quality Scorecard
4
Q
Data Quality Scorecard
A
- Data Governance
2. Data Quality Control
5
Q
Data Governance
A
- Data Quality Expectations
2. Metrics and Acceptability Thresholds for Monitoring Conformance to those Expectations
6
Q
Impact of Flawed Data
A
Delay or Obstruction of Successful Completion of Business Processes
7
Q
Determining Specific Impacts
A
Challenging
8
Q
Characterization of Impacts
A
Within Business Impact Taxonomy
9
Q
Information and Risk
A
- Flawed Information Impacts Organizational Risk
2. Types of Data Failures
10
Q
6 Business Impacts
A
- Financial
- Confidence
- Satisfaction
- Productivity
- Risk
- Compliance
11
Q
Financial
A
- Increased Operating Costs
- Decrease Revenue
- Delay in Cash Flow
- Missed Opportunities
12
Q
Confidence
A
- Decreased Organizational Trust
- Inconsistent Operational and Management Reporting
- Delayed or Improper Decisions
13
Q
Satisfaction
A
- Customer
- Employee
- Supplier
14
Q
Productivity
A
- Decreased Throughput
- Decreased Quality
- Increased Processing Time
- Increased Workloads
15
Q
Risk
A
- Credit Assessment
- Investment Risk
- Fraud
- Leakage
- Competitive Risk
- Capital Investment
16
Q
Compliance
A
- Government Regulations
- Industry Expectations
- Self- Policy
17
Q
Common Business Impact
A
- Risk
2. Compliance
18
Q
2 Important Things Within Organization
A
- High- Quality Information
2. Governance Processes for Transparency and Auditing
19
Q
Information Flaws
A
- Data Entry Errors
- Missing Data
- Duplicate Records
- Inconsistent Data
- Nonstandard Formats
- Complex Data Transformations
- Failed Identity Management Processes
- Incorrect or Misleading Meta- Data
